Okay, this is from Jeff Gates' "Commonsense Monday:"
Since 1913, debt has been the only way that we in the U.S. have known to create money. Choking on debt yet short on money, Americans are reeling from too much monetary theory and too little commonsense.
Those who sold us the theory also ensured recurring recessions. Each debt-induced cycle features rich-get-richer booms followed by debilitating busts. We designed our way into this mess. We can design our way out.
As yet, there’s no sign that policy-makers know a way out. Nor do their advisers. Over the past century, every economist has been educated the same. They are unable to see the real problem because the theory they were taught is the source of the problem.
The U.S. Federal Reserve model of central banking was one of America’s key exports. Every nation now “monetizes” pretty much the same way — with debt.
Good news is on the horizon from major exporting nations. Many of them are Islamic and flush with money. Much of that money originated as debt in industrialized nations.
Those nations are staggering under immense debt. Much of that debt is owed to nations where they must buy oil and gas to fuel their economies and generate funds to…repay debt.
Read the whole article (which C.I. passed over, thank you, C.I.) but think about it? Do you think this economy is going to get better?
I don't think it is. It's gone on so long and there's no urgency by the government to address it. I think they've accepted it as the norm now and that they are praying the American people accept it too.
Myself? I find unemployment unacceptable and a true indication of how little our politicians work.
Here's C.I.'s "Iraq snapshot:"